The Restaurant Times

JUNE 1, 2022

A POS software also tracks restaurant fund flow by keeping an eye on the following: Inventory. Invest in software like POS that should have the following features essential to maintain the restaurant accounting system: Inventory Management: You can use robust software such as POS for inventory management.

Operations 52

Operations Cash Management Employee Relations POS 52

The Restaurant Times

AUGUST 5, 2022

Successful restaurant accounting can help in efficient cash management, balancing financial books, optimizing costs, and overall business planning. You can easily calculate the COGS for the week by subtracting the inventory at the end of the week from the beginning inventory. Automated Inventory Management.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

Open for Business

OCTOBER 20, 2023

Don’t forget to detail marketing strategies, which could range from social media advertising to partnerships with local businesses. Craft a comprehensive financial blueprint to manage your restaurant’s expenses. Inventory management Don’t overlook inventory management systems.

License 78

License Email Marketing Front of House Seasonal Menu 78

BNG Point of Sale

OCTOBER 8, 2021

When you think of a point of sale POS system in retail, a cash register likely comes to mind. It’s a POS system consisting of smartphones, tablets, or proprietary mobile devices that do the same work as a cash register combined with a backend stock system. Mobile POS enhances cash flow throughout the day.?Like

Retail 52

Retail POS Mobile Ordering Cash Management 52

Sling

APRIL 19, 2021

As a small business owner or manager, you need to speak the language of your industry. This is a common question many owners and managers ask in regard to accounting for their business. Revenue , on the other hand, is the total amount of cash your business takes in during a specific period of time. How you manage inventory.

Small Business 145

Small Business Cash Management Customer Service Inventory 145

Sling

JULY 1, 2023

5) Pick a great location When you’ve got cash in hand, it’s time to take the next step and find the spot that will soon turn into your restaurant. A massive menu may not be the best idea, as it might lead to unused or spoiled inventory. Once you’ve hired a great team, you can take advantage of the Sling app to help manage everyone.

Fine Dining 78

Fine Dining Cash Management Restaurant Law Consumer Goods 78

Restaurant365

OCTOBER 14, 2020

Balancing cash flow month to month, let alone year to year, can be difficult for the ever-changing restaurant industry. As a restaurant owner or manager, you can use a budget to understand your income and expenses, and at what levels you will profit, break even, or operate at a loss. And yet, in times of uncertainty, like the COVID-19.

Point of Sale 78

Point of Sale Email Marketing Cash Management Advertising 78

BNG Point of Sale

JANUARY 19, 2021

What Are The Benefits Of a Restaurant Management System? Cash registers are still part of the equation, but today’s systems allow for greater flexibility in order taking and back-end organization and improved sales analytics. As a business, you still need a cash register, and every point-of-sale system will include one.

POS 98

POS Cash Management Mobile Ordering Loyalty Program 98

Get Beyond

OCTOBER 24, 2023

Eye up your inventory You can’t beat all your sales goals if you don’t have the inventory ready. Increase advertising The ramp-up to Small Business Saturday is as important as the day itself. Check your toolbox Has the shop been operating as cash only? Otherwise, you might face a burnt-out team and low retention.

Small Business 52

Small Business 2023 Social Media Customer Experience 52

Harbor Touch

NOVEMBER 21, 2022

On the other hand, you may need to hire a manager and/or assistant manager to help with the day-to-day operations. Consider setting up a website, creating social media accounts, and using traditional advertising methods like flyers and posters. Create a solid marketing plan.

Bar 78

Bar License Restaurant Law POS 78

Modern Restaurant Management

MAY 21, 2020

With less inventory and even fewer customers coming in, we recommend that you widen your margins and revamp your offerings. For their safety and convenience, enable delivery and payment services that allow customers to pay without cash, as well as choose when and how their order should be delivered. Offer Disposable Menus.

Social Media 180

Social Media Food Safety Cash Management Kitchen Safety 180

BNG Point of Sale

AUGUST 19, 2021

Food and drink inventory costs need to include the ingredients costs per meal or per drink. To calculate your CoGS, take your starting inventory amount plus the cost of that inventory and subtract your ending inventory amount. . Reduce Food Waste with Tight Inventory . electric and waste removal.) .

Cash Management 52

Cash Management Point of Sale Inventory Food Truck 52

The Restaurant Times

NOVEMBER 30, 2020

Evaluate cash flow for the first year and calculate the five-year-return to the franchise. Stock and Inventory Process. Supply Chain Management. Vendor Management. Payouts and Commission Management. Managing the business of multiple Franchise Restaurants can be a daunting task. Marketing and Advertising.

Franchise 52

Franchise Franchising Cash Management License 52

Lavu

APRIL 8, 2020

You will see improvements for customers, front of the house, the kitchen, as well as management. From a simple ordering and point-of-sale processing, modules and software can add hospitality efficiencies, mobile/online ordering, loyalty programs, and inventory management. Reservations & Table Management.

POS 78

POS Loyalty Program Mobile Ordering Point of Sale 78

7 Shifts

NOVEMBER 17, 2022

Recommended Reading: 7 Bar Inventory Building and Management Tactics for Restaurants. Your bar can advertise playing fan-favorite movies on certain nights (Harry Potter, Star Wars, and Lord of the Rings are a few ideas) and create a list of rules for when patrons must drink. Differentiate your business from competitors.

Bar 195

Bar Sports Outdoor Brewery 195

Lavu

JANUARY 15, 2020

You need funds to restock your inventory, pay your staff, obtain or renew permits, buy business assets, and replace your restaurant equipment. Regardless of the purpose, restaurant financing is vital to running a successful business and ensuring smooth cash flow. . Merchant Cash Advances. Types of restaurant financing.

Cash Management 78

Cash Management Equipment Small Business Front of House 78

Squirrel Systems

FEBRUARY 24, 2021

Get the Word Out – Advertise Let your customers know how they can order from your restaurant: social media, website, e-mail newsletter, sign on restaurant doo, or 3rd party marketplace. This will boost your cash flow, and customers will come back once we get through the current situation.

Operations 52

Operations Online Ordering Mobile Ordering Website Management 52

Indoor Media

OCTOBER 13, 2017

IndoorMedia’s CEO, Doug Endsley, started his career working in fast food and moved his way up to become the founder of the nation’s largest in-store advertising company. My dependency on the cash it provided made me determined to work hard and be successful at what I was doing. Every business owner has to start somewhere.

Point of Sale 78

Point of Sale Inventory Cash Management Leadership 78

Next Restaurants

MAY 26, 2020

With less inventory and even fewer customers coming in, we recommend that you widen your margins and revamp your offerings. For their safety and convenience, enable delivery and payment services that allow customers to pay without cash (such as tableside tablets ), as well as choose when and how their order should be delivered.

Webinar 89

Webinar Social Media Food Safety Cash Management 89

Modern Restaurant Management

DECEMBER 16, 2021

Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.

2022 170

2022 Food Supply Back of House Kitchen Safety 170

MBB Hospitality

NOVEMBER 13, 2018

Check out these restaurant consulting tips for the DIY restaurant owner or manager: The customer is always right. Invest in advertising is a necessity. Word of mouth will only get you so far in the restaurant business so even if it is a small budget, make sure you allocate some resources for advertising and restaurant promotions.

Management 40

Management Management Social Media Cash Management 40

Touch Bistro

JULY 4, 2021

Promote job ads online, work with restaurant staffing agencies in your area, and advertise through local schools and community centers. If a staff member refers a friend, and that friend gets hired and stays for more than three months, then the referring employee gets a cash bonus on their paycheck or another type of incentive.

2021 98

2021 Employee Relations Hiring Recruiting 98

Embrace the Suck

JUNE 13, 2022

Instead of becoming “the owner” I gave myself six jobs instead: Chef, General Manager, bookkeeper, HR Director, Chief Marketing Officer, maintenance man, and Beverage Director. I also have to come clean and confess that when I opened my first restaurant, I did NOT cost out my menu and did not do an inventory!

Back of House 44

Back of House Food Truck Point of Sale Take-out 44

Lavu

NOVEMBER 1, 2023

Advertising your delivery service on social media, through partnerships, and with targeted ads can help you get and keep more customers. Food delivery has become a cash cow for restaurants because it’s convenient and easy for customers. Is online food delivery a profitable business?

Delivery 166

Delivery Food Online Ordering Mobile Ordering 166

Restaurant365

APRIL 23, 2020

Your P&L is extremely valuable to manage your operations, budget, and future business growth. Before modern restaurant management technology, P&Ls required labor-intensive data tracking and analysis. Managing your balance sheet. Restaurant assets are what your restaurant owns, such as cooking equipment or inventory.

Cash Management 78

Cash Management Management Management Point of Sale 78

Apicbase

JUNE 16, 2023

In practice, however, successfully managing a group of busy restaurants is an awfully tough undertaking. The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. Get a 360-view of your sales & inventory data Adopt restaurant analytics software.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

The Restaurant Times

JANUARY 18, 2023

Independent platforms, such as online ordering platforms, rewards programs, food delivery, and customer relationship management systems (CRM), should work together to offer a seamless experience. What Is An Integrated Restaurant Management System? for managing phone calls, . streamlining inventory management, .

Operations 52

Operations Loyalty Program Point of Sale Online Ordering 52

Cheetah

AUGUST 17, 2021

Promo merchandise has a longer lasting impact (recall, recognition, awareness…) than online, print and television advertising. In short, restaurant merchandise is one of the most effective ways to directly impact your restaurant’s cash flow and increase profit. That’s why we use a merch management agency called Inkmule.

Merchandise 78

Merchandise Marketing Loyalty Program Cash Management 78

Apicbase

APRIL 20, 2022

You will also need to estimate the expected growth rate for at least the first year of the franchise business, calculate the restaurant cash flow, and determine the payback period (the time it will take to cover the capital expenditure). We suggest focusing on your earnings before interest and taxes (EBIT) to estimate cash flow.

Franchise 52

Franchise Franchising Cash Management Kitchen Safety 52

Restaurant365

MARCH 30, 2020

Without payment processing capabilities, you will need to process transactions over the phone, which can be a costly security risk, or through cash, which is now a health risk [more on this in the accounting section below]. With most consumers using cards, a mobile app that can process transactions when your staff delivers is ideal.

Delivery 78

Delivery Operations Insurance Cash Management 78

Apicbase

MAY 18, 2022

Managing a chain of company-owned restaurants is very different from working with franchisees. Besides cost estimates, audited financial statements and projections should be included, like: the expected growth rate for (at least) the first year; the estimated restaurant cash flow; the expected payback period. 9 Be Open To Feedback.

Franchise 52

Franchise Franchising Sustainability Document 52

Modern Restaurant Management

FEBRUARY 18, 2020

Modern Restaurant Management (MRM) magazine asked restaurant industry movers and shakers: "What do you feel is going to cause disruption in the restaurant industry over the next decade?” In addition to improving the guest experience, technology also makes it easier for restaurants to manage their operations.

Mobile Ordering 206

Mobile Ordering Front of House Fast Casual Customer Service 206

Modern Restaurant Management

DECEMBER 28, 2020

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their opinions on what we can expect in 2021. For example, to level-up the fan experience you can combine first-party transaction data with player stats, weather conditions, and inventory to better predict game-day sales. Here are their responses.

2021 164

2021 Kitchen Safety Food Safety Mobile Ordering 164

BNG Point of Sale

APRIL 22, 2020

All that convenience also means no more making awkward trips to the cash register during the peak hours of a busy shift. Handheld POS devices track inventory. With restaurant handheld POS systems, loyalty sign-ups increase tenfold compared to traditional methods of marketing (such as email marketing and advertising campaigning).

POS 86

POS Loyalty Program Point of Sale Mobile Ordering 86

BNG Point of Sale

APRIL 22, 2020

All that convenience also means no more making awkward trips to the cash register during the peak hours of a busy shift. Handheld POS devices track inventory. With restaurant handheld POS systems, loyalty sign-ups increase tenfold compared to traditional methods of marketing (such as email marketing and advertising campaigning).

POS 52

POS Loyalty Program Point of Sale Mobile Ordering 52

Modern Restaurant Management

DECEMBER 31, 2019

Modern Restaurant Management (MRM) magazine asked restaurant industry insiders and experts for their insights on what will impact restaurants in 2020 and the response was overwhelming. Rick Camac, Dean of Restaurant & Hospitality Management at the Institute of Culinary Education.

2020 126

2020 Kitchen Safety Consumer Goods Point of Sale 126

EATER

MAY 3, 2022

The first thing food influencers want you to know is that it’s extremely uncouth to ask about their rates — that is, the amount that brands pay them to advertise. Some strike out on their own, acting as their own business managers. If you do a custom product, it’s going to cost you at least $20,000 in upfront fees just for inventory.

Influencer 94

Influencer Food Social Media Cash Management 94